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UAE quits oil cartel Opec after six decades
The United Arab Emirates says quitting the Opec and Opec+ groups of major oil producing nations will provide more flexibility. The move is being seen as a blow to the groups' de facto leader Saudi Arabia. Also, Russia has accused Ukraine of destabilising global energy markets after renewed drone strikes caused a huge fire at an oil refinery in the Black Sea port of Tuapse.
Russia Bans Jet Fuel Exports as Attacks on Refineries Intensify
A fire truck passes smoke from a Ukrainian drone attack on the Tuapse oil refinery in Krasnodar region, Russia, in April.
Trump briefed on new military options for Iran
One report says the US may deploy a hypersonic missile in the Middle East for the first time, as part of efforts to put pressure on Iran to reach a deal. This comes as a deadline passed for Donald Trump to secure authorisation from the US Congress to continue the war against Iran. US Defence Secretary, Pete Hegseth, argues President Trump does not have to comply with the War Powers Resolution because the cease-ire agreement reached with Iran paused the clock on any such obligation.
For first time, Russia admits oil production has declined amid Ukraine's attacks on refineries
Russia, for the first time, has publicly acknowledged a dip in its oil production this year, even as it assured that the country was continuously stepping up its “export infrastructure to its maximum capacity.” Speaking to reporters at the St Petersburg International Economic Forum on Thursday, deputy Prime Minister Alexander Novak said that current output was lower than at the start of the year because a number of refineries were undergoing unscheduled repairs. His remarks mark the first...
'Horror strikes on Ukraine's civilians are a sign of Kremlin desperation'
'Horror strikes on Ukraine's civilians are a sign of Kremlin desperation' The Kremlin's bloody terror attacks on Ukraine's cities show how its frontline troops on the battlefield are likely now losing the war - and President Vladimir Putin's time may finally be up As the fires die down and the smoke clears from last night’s brutal Russian onslaught on Ukraine President Vladimir Putin may enjoy a few moments of cruel pleasure. Even after the unleashing of close to 700 missiles and drones...